Chairman of PetroVietnam Tran Sy Thanh speaks at the conference (Photo: VNA)Hanoi (VNA) – As much as 7.45 trillion VND (320.5 million USD) were collected for the State budget from the initial public offerings (IPOs) of three membercompanies of the Vietnam Oil and Gas Group (PetroVietnam) in the first sixmonths of 2018.
The information was revealed by Dinh Van Son, member of PetroVietnam’sMember Council at a conference to review the equitisation of PetroVietnam OilCorporation (PVOil), PetroVietnam Power Corporation (PV Power) and the Binh SonRefining and Petrochemical One Member Co Ltd (BSR) in Hanoi on August 17.
Accordingly, BSR successfully auctioned 241,427,969 shares or7.79 percent of its charter capital, for over 5.4 trillion VND (232.4 millionUSD), bringing in a surplus of 3.15 trillion VND (nearly 135.49 million USD).
Meanwhile, PV Power and PVOil also held the auctions of 467,802,523shares and 200,445,036 shares, earning 2.3 trillion VND (over 98.9 million USD)and 2 trillion VND (over 86 million USD) in surplus, respectively.
Addressing the conference, Chairman of PetroVietnam Tran Sy Thanh affirmed the equitisationhelped promote the restructuring in these enterprises, thus improving theefficiency of their operation in the context of increasing competition in theoil and gas market.
Under a roadmap of comprehensive restructuring of PetroVietnam by 2020 with avision to 2025, the group will carry out the equitisation to divest capitalfrom its member companies, thus fine-tuning the quality of corporate governance.
Implementing the Government’s direction on the equitisation of PetroVietnam’ssubsidiaries, the group’s Steering Committee for equitisation has closelyworked with relevant units to organise Roadshows which aim to introduce stockinvestment opportunities in the oil and gas industry.
PetroVietnam continues its operation in the key fields of oiland gas exploration, exploitation and production, while working to maintain thestability of its financial structure and gradually streamline its organisationalapparatus.-VNA
The information was revealed by Dinh Van Son, member of PetroVietnam’sMember Council at a conference to review the equitisation of PetroVietnam OilCorporation (PVOil), PetroVietnam Power Corporation (PV Power) and the Binh SonRefining and Petrochemical One Member Co Ltd (BSR) in Hanoi on August 17.
Accordingly, BSR successfully auctioned 241,427,969 shares or7.79 percent of its charter capital, for over 5.4 trillion VND (232.4 millionUSD), bringing in a surplus of 3.15 trillion VND (nearly 135.49 million USD).
Meanwhile, PV Power and PVOil also held the auctions of 467,802,523shares and 200,445,036 shares, earning 2.3 trillion VND (over 98.9 million USD)and 2 trillion VND (over 86 million USD) in surplus, respectively.
Addressing the conference, Chairman of PetroVietnam Tran Sy Thanh affirmed the equitisationhelped promote the restructuring in these enterprises, thus improving theefficiency of their operation in the context of increasing competition in theoil and gas market.
Under a roadmap of comprehensive restructuring of PetroVietnam by 2020 with avision to 2025, the group will carry out the equitisation to divest capitalfrom its member companies, thus fine-tuning the quality of corporate governance.
Implementing the Government’s direction on the equitisation of PetroVietnam’ssubsidiaries, the group’s Steering Committee for equitisation has closelyworked with relevant units to organise Roadshows which aim to introduce stockinvestment opportunities in the oil and gas industry.
PetroVietnam continues its operation in the key fields of oiland gas exploration, exploitation and production, while working to maintain thestability of its financial structure and gradually streamline its organisationalapparatus.-VNA
VNA
